Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    W 16Th Ave Sault Sainte Marie, MI 49783

    Sponsored
    For Sale
    Contact for pricing

    Single Family Lot - Sault Ste Marie, MI

    Lot size:
    0.46 Acres
    Days on Market:
    5
    Last Refresh:
    Jan 25 at 7:06 pm

    Property Features for W 16Th Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R1
    APN
    051-435-027-00
    Lot size
    0.46 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Mackenzie Thomas

    Five Water Realty

    Listing agent Mackenzie Thomas (906) 226-7300

    Listing date Jan 21, 2026

    MLS# 24-1007 Listing URL

    Copyright © 2026 Eastern Upper Peninsula Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Residential Lot in Lakeshore Subdivision

    Located in the Lakeshore Subdivision of Sault Ste. Marie, MI, this vacant lot presents an opportunity for building a home. The 0.46-acre lot is near Lake Superior's shoreline, parks, trails, and recreational amenities. The neighborhood is family-friendly and close to schools, shopping, dining, and downtown Sault Ste. Marie. Suited for a primary residence or seasonal retreat, this lot combines natural surroundings with convenience.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Sault Sainte Marie
    County
    Chippewa
    State
    Michigan
    Longitude
    -84.320198
    Latitude
    46.477403

    Nearby Similar for Sale

    • $1,250,000
      9,959 SF

      Boutique Motel Business Opportunity

      Turn-key, renovated motel business with income and growth potential.
      1602 Ashmun St, Sault Sainte Marie, MI 49783
      View Details
    • $599,000

      Renovated Mixed-Use Property

      Historic charm meets modern luxury in Sault Ste Marie.
      215 Ashmun St, Sault Sainte Marie, MI 49783
      View Details
    • $990,000
      3,200 SF

      Iconic Bar and Restaurant Opportunity

      Turnkey bar and restaurant for sale in Sault Ste. Marie.
      227 W Portage Ave, Sault Sainte Marie, MI 49783
      View Details
    • $525,000
      4,000 SF

      Industrial Building with Crane Access

      Heavy-duty industrial building with crane, in-floor heat, and equipment.
      17378 S M-129, Sault Sainte Marie, MI 49783
      View Details
    • $245,000
      4,502 SF

      Downtown Sault Ste Marie Commercial Building

      High-visibility 5,000 sq ft commercial space in downtown Sault Ste Marie.
      816 Ashmun St, Sault Sainte Marie, MI 49783
      View Details
    • $520,000
      7,300 SF

      Commercial Property with Three Buildings

      High-potential commercial property featuring three buildings for business or investment.
      7800 S Mackinac Trl, Sault Sainte Marie, MI 49783
      View Details
    • $370,000
      3,950 SF

      Downtown Retail Space with Views

      Prime retail space in historic downtown Sault Ste. Marie.
      201/205 W Portage Ave, Sault Sainte Marie, MI 49783
      View Details
    • $399,000

      Historic Mixed-Use Building For Sale

      Vintage charm meets income potential in Sault Ste. Marie's DDA.
      400/402 Ashmun St, Sault Sainte Marie, MI 49783
      View Details
    • $615,000
      4,000 SF

      Upgraded Office Space Ready

      Move-in ready, upgraded office space, formerly a medical office.
      558 Ashmun St, Sault Sainte Marie, MI 49783
      View Details
    • $145,000
      1.34 Acres

      Waterfront Lot on St. Mary's

      Partially wooded 1.34-acre waterfront lot with power available.
      4593 S Nicolet Rd, Sault Sainte Marie, MI 49783
      View Details
    • $1,995,000
      33,250 SF

      Big Lots Retail Investment Opportunity

      Big Lots retail property for sale in Sault Ste. Marie.
      3396 Business Spur, Sault Sainte Marie, MI
      View Details
    • $152,500
      74.00 Acres

      Farmland Near Sault Ste Marie

      74 acres of farmland south of Sault Ste Marie.
      S Shunk Rd, Sault Sainte Marie, MI 49783
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Vacant lot in Sault Ste Marie, build your dream home.
    Where is this residential land & home lot located?
    The property is located at W 16Th Ave Sault Sainte Marie, MI.
    What is the asking price?
    The asking price for this property is $15,000.
    What are key features of this property?
    This property features: - Vacant lot in the desirable Lakeshore Subdivision.; - Proximity to Lake Superior's shoreline.; - Close to parks, trails, and recreational amenities.
    (906) 630-1082
    Request Owner's contact information
    W 16Th Ave Sault Sainte Marie, MI 49783
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    W 16Th Ave
    Sault Sainte Marie, MI 49783
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    W 16Th Ave Sault Sainte Marie, MI 49783
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Mackenzie Thomas
    (906) 630-1082
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.